New Construction Build

[Devon Harrington]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $306,000
Cash invested: $15,000

This home is located in a new 200 acre residential development on east side of SH 78 at FM 6. The phase I residential development of 161 homes is in home building. Total plan is 700 homes and 27 acres of commercial and flex uses.

What made you interested in investing in this type of deal?

This area is seeing exponential growth.

How did you find this deal and how did you negotiate it?

As a real estate agent I found the builder and was able to purchase the new build before the model homes were even built.

How did you finance this deal?

A conventional mortgage loan to take advantage of the extremely low interest rates.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I handled the transaction myself since I'm a real estate agent.